An individual deducted TDS on 05/03/2013 and deposited the same on 14/05/2013 then the interest on this late deposition will be calculated for how many days and at which %age.
Thanks in advance.......
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Interest on tds deposition
Replies (10)
1.5% for three months (i.e March , april and may)
Amit, in this case intt will be calculated at 1.5% per month or part of the month. .
Period of intt wil be 3 months (part of the month is considered as 1 month).
agree with Ms. Nisha.... it would be 1.5% for 3 months.. i.e. 4.5% in total..
Interest on late deposition of tds levied @ 1.5% per month or part of the month from the date of deduction to the date of deposit
In this case interest is calculated for 3 months
Thanks to all for replying me........................................
For which instance per day penalty is 200
Dear Rohit,
that is for late filing of TDS return... not for late deposit of TDS...
Acrding to me Amit Ji u will deposite interest of 37 days
Agree with Lovely Sir, in case of late filing of TDS return deductor will be liable to pay fee of Rs 200 per day till the failure to file TDS statement continues. However, the total fee cannot exceed the amount of TDS deductible for which statement was required to be filed.
Dear Lovely and Pooja thank you for clarifying the matter about tds deposit interest and late filing of tds return.
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